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Red Flags At China MediaExpress: Article Published After Dispute

|Includes: China MediaExpress Holdings, Inc. (CCME)

The original article on CCME's SAIC/SAT mismatch with SEC filings has been revised and accepted by Seeking Alpha editors as article.  

Red Flags at China MediaExpress: Significantly Mismatched Filings in China, U.S.

The revised article has no mentioning of SAT documents not because I do not trust its numbers but because it was not obtained through the formal channel and thus lacked proper seals. This is as close as we can get to the CCME SAT document to date. 

Several points:

  1. I trust the source where I got the information from.
  2. The numbers match SAIC documents I obtained from a separate reliable source, Qingdao Inter-Credit. 
  3. The formats of the documents make me believe that they are not forged. A forger will need a lot of imagination and solid knowledge to have them in somewhat different formats. A typical forger will produce three forms with similar format and would never make that 2008 mistake. 
  4. The documents were pulled from the SAT electronic storage, and are thus without seals. There is no good explanation to me for the "2008" error, but my source did tell me the problem in the very beginning and we present the documents the way we obtained it regardless.
Anyone who would like to base their decision on verifiable documents can safely choose to ignore the SAT documents. 

Anyone who would like to blame the documents being forged should complain to SAT and SEC. 

Anyone who would like to question the authenticity of SAIC reports should ask the company to provide them a copy, especially for those who are long CCME. Since you are the owner of this company, you have rights to know the truth of what you own. The management has hinted in their open letter that their SAIC report does not agree with the SEC report. It surprises me that you are not interested in knowing at least by what order of magnitude these two filings differ. 

Anyone who could not get proper response from the company, would like to know the truth and is not short of cash should ask for their own copy of SAIC report from Qingdao Inter-Credit for $250. The contact information can be found here. The people there understand English and are very efficient in providing you with professional service.

A complete and untranslated copy of SAIC report I purchased from Qingdao Inter-Credit is available FREE for you here

Anyone who do not trust Qingdao Inter-Credit can charter a lawyer at Fuzhou to obtain the SAIC report. According to Chinese law, any lawyer can obtain the SAIC report from the local SAIC bureau with his/her proper license presented. 

Anyone who do not want to follow any of my suggestion above can certainly hold your shares and bet your future with CCME. I am not against your decision but I take the opposite side of your bet. 

Final words to the long of CCME who are seeking some truth

The sites that you longs aggregate into, such as ccme-info.xanga or your investorshub site, are merely your own biased club. For instance, bullmarkets asked you to refer to them for facts and truth (link) and yet he is deleting information on the boards that questions the legitimacy of CCME. Here is the proof.
Some messages have been removed. If anyone needs anything more removed, please let me know. 
In particular, he removed posts of rantobranco, who started to believe things were wrong with CCME, sold out his shares and explicitly complained that the investorshub did not entertain opposite opinions which did not help one to make rational investment decisions which require very sane mind.

Money is yours and decision is yours. You may want to believe that Deloitte and Starr International are not likely to make mistake, but shorts also know these as well as you do, and yet they are willing to make the bet against you!